The Central Bank of Nigeria (CBN) has announced plans to introduce a new regulatory framework governing debit card issuance and the operations of Automated Teller Machines (ATMs) across the country.
According to the apex bank, the policy is aimed at addressing persistent cash access challenges, improving the reliability of ATM services, and ensuring a more efficient and consumer-friendly banking experience. The new guidelines are expected to standardize debit card issuance processes while strengthening oversight of ATM deployment, functionality, and uptime.
The CBN noted that the initiative forms part of broader efforts to enhance the stability of Nigeria’s payment system and restore public confidence in electronic banking services. Financial institutions and other stakeholders are expected to align their operations with the new rules once they come into effect.
Further details on the implementation timeline and enforcement mechanisms are anticipated as the CBN engages banks and payment service providers on the policy rollout.
